Morning journal and courier., 1887-07-15
TRE-LEAsES RATIFIED.

The Consolidated Roads Stockholders
 Meet and Approve She Action of the
 Directors speeches by President
 Clark and William ID. Bishop-A Pros
 porous COrpOratfon-AL Look Into the
 Future. 't':s
 The stockholders of the New York, New Haven and Hartford railroad company met at Loomis' Temple of Music yesterday morn ing and ratified the work of the directors and officers of the road in leasing for term of ninety nine years the Naugatuck road, the Connecticut Valley road, the Northampton road and also the Stamford and New Canaan road. The terms of the leases begin April 1, 1887. President Clark spoke as follows I for his adopted children, the new roads: "Fel- low stockholders: In reply to the young l man who calls you my adopted children, I
 have but one thing to say upon meeting you l to-day for the first time and that is to call | back to your minds the exertion, fatigue, l labor and industry of my predecessor, and to add my regret to yours that unceasing devo- ! tion to business has made it necessary for him to takerest. This company will exist after we are all gone, and I am mindful that my turn will come too. I promise you that I whatever ability r have by inheritance or
 
 act of commission or omfssion, as long as God gives me strength, shall fail you" | Mr. Henry c. Robinson made few witty remarks and testified his appreciation of MT. Watrous' services and called upon William D. Bishop, of Bridgeport.
 MT. Bishop said: 'I hardly know, what to say about these resolutions that we have just balloted on, but are not under discus sion now. cannot help comparing the pres ent condition of our company with the con- dition it was in when I first became familiar with the road, and I have been construction was commenced in 1845. To show the changes in the value of the real estate of the company will mention one item. If the real estate now owned by the road in New Haven had to be purchased at it's present value it would cost more than did the entire New York and New Haven road as originally constructed. The same is true in other cities. There is much talk of rival roads being constructed. A rival road may come; in the course of years it will come. But whoever imagine that they can build road to rival the Consolidated for anything like the amount of its capital stock and debts are wofully mistaken. Our road could not be duplicated for four times what it originally cost. In these days of ripe spec ulation and plenty of money roads are con- structed by speculators not so much with 8 view to making money out of the road it. SeAL AS uakluR money out OF InS contracts providing the directors can foist se- curities on the public When the New York Central was built no one thought it would be paralleled any more than they did any of the other big roads that were afterward parallel ed. But the New York Central was paralleled and the road that parallsled it went into ut- ter bankruptcy and is now under the control of the New York Central, and that any other road that paralleled the New York, New Ha- ven and Hartford will become bankrupt or pass under the control of the Consolidated is just as certain as that the sun rises in the east and sets in the west. You need have no fear but that the old New York, New Haven and Hartford will keep abreast of the prog your money in manner that will furnish the best accommodations for the public and yield the most revenue"